Perpetual’s board should heed the fund manager’s sinking share price and abandon its agreed deal with rival Pendal Group, instead putting the group’s corporate trust business up for sale, a leading analyst says.
Brambles has disappointed investors for a decade, and many shareholders will see a potential takeover from CVC as a chance to finally extract some value.
The success of Perpetual’s offer for rival Pendal Group is far from certain, and the fate of their high-profile investment teams are just one wild card.